In his weekly video overviewing U.S. hotel performance, STR’s Jan Freitag said the Labor Day weekend began well with a 32.8% decrease in RevPAR, which is “much better than what we’ve seen in a long time.”
NASHVILLE, Tennessee—For the week ending 5 September, U.S. hotel performance metrics continued to improve, buoyed most recently by the Labor Day holiday, Jan Freitag, SVP of lodging insights at STR, said in a video overviewing weekly U.S. hotel performance.
(STR is the parent company of Hotel News Now.)
STR published preliminary August data this week, which indicated a clear sign of recovery in the U.S. as shown by revenue per available room percent change data, Freitag said.
“For August, we expect that RevPAR comes in at just around -47.5% compared to August in the prior year. Clearly an uptick and clearly a sign of continued leisure travel,” he said.
Start to Labor Day weekend
The Labor Day weekend began well, he said. RevPAR percent change for the week was down 32.8%, which is “much, much better than we’ve seen in a long time, basically on par with early March (results),” he said.
The number of new COVID-19 cases is also now below 300,000.
The U.S. hotel industry sold 500,000 more rooms last week compared to the week before, Freitag said, selling roughly 18 million roomnights.
TSA checkpoint numbers also increased by just under 10% for the same week with 5.1 million travelers checked through U.S. airports, he added.
For Saturday, 5 September, occupancy was 69%, “which is only 2.6% lower than it was on the same Saturday a year ago,” he said.
Upper midscale, midscale and economy continued to saw occupancies exceed 50% for the week. The upper upscale and luxury segments reported occupancies of just under 40%, which Freitag said was good to see as those higher-end segments have seen lower occupancies throughout the pandemic.
STR compared occupancies in some markets for the weekend of 4-5 September to the previous weekend, which showed significant increases in occupancy for the markets looked at.
Fort Myers, Florida, saw a 61% increase in occupancy from the previous week and the Chattanooga, Tennessee-Georgia, market reported a 51% increase.
For more weekly insights from Freitag, watch the video below.
Editor’s note: The video included in this article was filmed by Jan Freitag, SVP of lodging insights at STR, on 10 September and edited and produced by CoStar Group. HNN is a division of STR, a CoStar Group company.